Vitasoy International (00345) fell more than 8% in the afternoon to an intraday low of HK$8.52, which is below the annual high of HK$18.386. As of press release, it decreased by 8.09% to HK$8.52, with a turnover of HK$208.75,700.
The Zhitong Finance app learned that Vitasoy International (00345) fell more than 8% in the afternoon. The intraday low was HK$8.52, which is below the annual high of HK$18.386. As of press release, it decreased by 8.09% to HK$8.52, with a turnover of HK$208.75,700.
According to the news, Vitasoy International recently announced the appointment of Luo Qimei as Group Vice Chairman. According to the report, when asked if Executive Chairman Luo Youli is planning to retire, he said that he will continue to serve as chairman and will share his experience and views with Luo Qimei within the next two to three years, stressing that the handover period will gradually unfold. After the formal handover, when he will retire will also depend on future progress.
According to a research report released by Lyon, in the first half of the 2024 fiscal year, Vitasoy International's sales volume calculated according to the report benchmark/excluding exchange rate effects fell 7%/3% year on year, respectively, and the net profit margin calculated according to the report basis increased 0.9 percentage points. The company aims to achieve positive sales growth and further expand profit margins in the second half of fiscal year 2024. Maintaining its “outperforming market” rating, it is expected that it will take a long time for profit margins to recover. The target price was lowered from HK$13.3 to HK$9.8.